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Broken Dreams of Cryptocurrency Investment, a Man Falls into a Debt Spiral
With the expectation of rapid growth from high-risk investment channels, Mr. T., a young entrepreneur in the office real estate rental sector, found himself in dire straits when his debt of over 500 million VND surrounded him. Since 2022, Mr. T. started developing a model for renting and subletting offices. This is a field that provides stable income with a profit margin of about 300 million VND per year. However, with the desire to increase his assets quickly, he shifted towards high-risk investment channels such as stocks and cryptocurrencies. Instead of using his own capital, Mr. T. used about 200 million VND of his partner's deposit and most of the accumulated profits for investment. However, these decisions did not yield results; on the contrary, they caused him to lose everything and incur additional debt.
Debt spiral and deadlock In an effort to resolve the crisis, Mr. T. has been selling the company on business forums, hoping to recover some funds to pay off debts. However, to date, the search for an investor to buy the company has not yielded any results. "Financial institutions continuously demand payment, and my spirit is increasingly at a standstill. The future ahead is bleak, and I don't know what to do to overcome this," Mr. T. shared. Lessons from investment failures Mr. T.'s story is not an isolated case. Many young people today, with the mindset of wanting to "get rich quick," have chosen high-risk investment channels without anticipating the consequences. According to financial experts, investors need to understand the principle of "not putting all your eggs in one basket" and avoid using funds that are not their own, especially borrowed money or funds from partners. Financial reset: Is it still possible? In the current situation, experts advise Mr. T. to focus on maintaining core business operations instead of looking for additional investments to "recover". Restructuring cash flow while negotiating with creditors to extend repayment periods may help him find a way out of this difficulty. Mr. T.'s story is a wake-up call for those who invest without thorough preparation. Instead of chasing quick profits, each investor needs to consider risks and build a sustainable strategy, ensuring that personal finances are not severely harmed.